Know more about Online Trend Analysis for the Real Estate Industry and Successful Marketing Strategies from Vinayak Katkar's presentation at the Digital Bites- a Digital Marketing Conference by Amura & Google @ Bangalore Google Office.
How to market and sell in buyer's market?
- Vinayak Katkar
USD 1.5 Billion Inventory
India’s most advanced
Sales and Marketing
platform for Real Estate
200+ Strong Marketing &
Rs. 90+ Cr in digital ad
150+ Real Estate
3.5 Million Leads
• Real Estate economy - Struggling
• Nega5ve Sen5ment because of media coverage about the industry
• The unsold inventory numbers are increasing day by day and that is
bringing down the conﬁdence of buyer
• The unsold units in 8 large ci5es in the country an all-5me peak of 1171
million sq.E, up by 22 per cent from last year
Source : ET
• Bengaluru alone has 179.2 million sq.E. unsold inventory as of 31st Mar 2016
• Current inventory overhang is about 4 years in all major ci5es.
• Ready possession ﬂats are in demand than under construc5on because of
unpredictability in construc5on comple5on.
• Buyers are wai5ng for markets to boRom out.
• Delays of 2 years have become common.
Source : ET
"Smart people buy when market is
perceived to be weak."
• Buyers don’t know which are the best projects & best deals available in
• They don’t know what will be right price to buy a property.
• Skep5cism about the credibility of developers, project comple5on,
legal issues etc.
• Down payment issue. Buyers have loan eligibility but they don’t have
margin money to pay.
• Higher Risk of money geXng stuck if project is delayed.
• Cost of owning real estate is higher than ren5ng.
• Investors aren’t geXng good returns as compared to other investment
op5ons like stock/equity, MFs and bonds.
• Finding prospects & geXng new leads
• Developers don’t know at what price the property will sell
• Expecta5on mismatch, demand-supply gap between customers and
• Leads not geXng converted (Quality issue).
• Longer conversion cycles. Conversion 5me has increased from 1 month to 3
• Cost of conversion is high & sales velocity is slow.
• Access to ﬁnance and capital to complete the projects.
• Too much dependence on brokers and channel partners
• Primary market research and focused group discussions with exis5ng leads to
understand their requirements.
• Catchment area analysis, primary economic drivers and employment in the
• Inventory Demand and supply analysis, absorp5on capacity of the micro-
• Compe55ve analysis - product oﬀerings & pricing, marke5ng strategy
• Buyer proﬁle, Target audience and persona iden5ﬁca5on
• Pricing strategy
• Giving right oﬀers, payment plans and ﬁnance op5ons
• Media strategy based on target audience.
• Media planning and buying.
• Communica5on strategy across all media including but not limited to
Google, Social media, hoardings, radio and print campaigns.
• Diﬀeren5al communica5on to test the market response using Sell.Do
• Enquiry tracking, ROI tracking using sell.do
• Tracking cost per qualiﬁed lead, cost per site visit and cost per conversion.
• Enquiry ﬂow management from pre-sales - site visits - to sales.
• On-site experience management and geXng customer feedback.
• Lead nurturing, lead scoring to focus more on qualiﬁed leads.
• Post sales management – execu5ng the agreements faster.
• Loan facilita5on, ﬁnance schemes to close the deals faster.
• Payment collec5on, post sales & CRM to manage customer queries.
Sales - Last-mile push
q Problem Statement
To Sell 850 Homes in Virar (Mumbai Suburb) & Nasik (200 Kms from Mumbai)
Concept : Life ka Chance
Previous Oﬀer : 20 : 80 Did not elicit any demand
• Get Premium homes at less than MHADA (Govt Housing Scheme) rates.
• Anil Kapoor as a brand ambassador.
• Get bookings via an auc5on(lucky draw) sale process with online form submissions with 21,000
• Tie up with HDFC Realty for managing the ﬁnancial transac5ons and third party ins5tu5on to announce
• Tie up with Insurance Provider for construc5on delays and safeguard interest of buyers.
1000+ EMDs collected
11,000+ Enquiries | Cost per Lead :Rs. 250
q ExecuGon Success (DiﬀerenGators)
- Use of Automa5on Plaeorm Sell.do to manage leads
- Technology to tackle high lead volumes & manage sales performance
IVR, Auto Dialer, Heirarchy Management, Lead Scoring
- Robust payments Plaeorm to collect online payments
To transform their business from no-brand to a known brand
• Choosing the right media to adver5se.
• Communica5ng with customers in a more transparent way.
• Standardisa5on in process.
• Streamlined CRM process to handle.
• Financial process setup to streamline cash ﬂows and collec5ons.
• Sale of 25-30 units per month.
• Increase in the conversion ra5o to 1-2% to 7%
• Total sales -300+ units
• Cost Per Closure < Rs.15,000 (Less than 1% of total considera5on value of plot)
What next that for Royal Purandar??
Taking Sales Velocity from
10 Cr to 60 Cr in 3 months - 6X
• A Real estate ﬂash sale to create a transparent &
consumer-centric plaeorm to bring together
developers and consumers.
• A transparent & hassle-free home-buying
experience for the consumers & oﬀer them best
deals in the market.
• Technology plaeorm to remove middle men &
pass the beneﬁts directly to consumers